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National budget: MPs laud bid to help small-scale traders

By Wilfred Ayaga | June 11th 2020 at 12:00:00 GMT +0300

MPs have praised Treasury CS Ukur Yatani's budget saying it will cushion businesses against the shocks of Covid-19 pandemic.

The Leader of Majority in the National Assembly Aden Duale singled out the economic stimulus package terming it a timely intervention for businesses at this time that coronavirus is ravaging economies of the world.

“The post-Covid-19 economic stimulus package of Sh53.7 billion is good to start to rejuvenating the economy. The package, especially the one given to small scale business enterprises, is good. But we need more interventions depending on how long the crisis will be with us,” he said.

He said: “The Treasury should also consider renegotiating the terms and conditions of existing loans with a view to striking a deal for a moratorium, including having a grace period on interests on principal amounts.”

Minority Leader John Mbadi said he was impressed by economic stimulation measures in the budget, but expressed concerns over its financing. 

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“This is good because we need economic stimulation, protection of jobs and businesses as we hope for economic recovery. However, I’m apprehensive about the financing of this budget given the expected revenue shortfalls. How will he bridge the gap?" he said.

Nominated Senator who is also the acting Senate Finance Committee chairman Issac Mwaura termed the budget ambitious.

“I would have liked the CS to do more in terms of fiscal consolidation. He should have reduced our expenditure to Sh2 trillion. I do not think we will collect much due to Covid-19. The CS should also have provided a robust plan of debt restructuring,” he said.

Kiminini MP Chris Wamalwa called for a clear framework on how funds will help SMEs.

Kieni MP, Kanini Kega said: "I'm happy the budget is balanced in terms of living within our means and ensuring our debts are under control."


CS Ukur Yatani' MPs National budget
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